Seeking Alpha

Gazprom Neft gets first oil at Iraqi field

Gazprom Neft (GZPFY), the oil-producing arm of Russian gas firm Gazprom (OGZPY, OGZRY), says it has produced first oil in well-testing at its Badra oilfield in Iraq and plans to start commercial production there this year.

The successful testing at the BD4 appraisal well took place late last month with a natural flow rate of 7K bbl/day; Badra's output is expected to reach 170K bbl/day by 2017.

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